The Fan Controlled Football league, which lets spectators vote on each offensive play call, was hit with a lawsuit in Delaware claiming it ripped off an investor who paid $333,000 for what was supposed to be a majority stake in one of the league’s four teams.
The league, whose teams are partly owned by celebrities including former NFL star Marshawn Lynch, “began backing away from the terms of its contract” after it “apparently burned through the cash” invested by Alchemy Ltd., according to the complaint filed Tuesday in Delaware Chancery Court.
The cryptocurrency-based advisory firm, doing business as New Alchemy, ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.